The Termination:Louisiana-Pacific (NYSE: LPX) and Ainsworth Lumber (OTC: ANSBF) announced Wednesday the termination of their previously announced agreement of September 4, 2013, under which LP would acquire Ainsworth for $863 million in a cash and stock deal. The companies have determined that regulatory approvals cannot be obtained without divestitures, beyond those contemplated in the Agreement without lengthy and expensive litigation with US and Canadian authorities.

No termination fee will be payable by either party.

Louisiana-Pacific closed Wednesday at $15.13, a loss of 4.5%.

Sears Holdings Considers Sale of Sears Canada Stake.

The Strategic Review:Sears Holdings (NASDAQ: SHLD) announced Wednesday, it has hired an investment banking firm to assist in exploring strategic alternatives for its 51% stake in Sears Canada (OTC: SEARF). A potential sale of the stake is an option.

Sears Canada acknowledged the release by Sears Holdings and said its board and management intend to fully cooperate in the process.

Sears Holdings closed Wednesday at $40.70, a loss of almost 6%.

Hearing Fred's Seeking Buyers

The Rumor:Shares of Fred's (NASDAQ: FRED) surged higher Wednesday on a report from DealReporter that the retailer has been talking to potential buyers.